1940-S Mercury Dime NGC MS68* CAC in auction

I agree. Good summary Rick. It is a beautiful coin. I love die polishing lines.

 

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I am sorry to here you have to let those coins go Rueben. Very nice Mercuries.

 

Man -o- man ... that is insane luster. Absolutely sick.


(that's a compliment, BTW...)

 

Here is one I wish I could afford:

 

Oh it is beautiful! Love the toning, and a pretty little CAC sticker..
Nice coin, you gonna bid?

 

Yes - it is even more impressive in the hand. The slab has a scratch and I loved this coin, one of the prizes in my collection.

Ruben

 

I agree , it is a weak strike for the grade. I would suggest this coin just got bumped up from a previous holder. In march of this year, there were only Two MS 68 * designated specimens graded by NGC with none finer. Now we have three. While it does have some strong eye appeal , in my opinion a premium of two or three hundred dollars is excessive for this one. I am certain that most of you know that the star designation is not intended to imply it just misses the next grade .

 

That's not completely true. It means that is has exceptional eye appeal for the grade. You see the star a lot on nicely toned coins to reflect the eye appeal that the toning brings to the coin.

 

I haven't decided yet. This is a coin that luster will make all the difference, and I can't see that from a photo.

 

I don't dispute that it is a weak strike for the grade or that it got bumped or crossed. However, the premium you mentioned is not excessive, it is low. My guess is that this coin hammers over $1,000. This is a late die state coin evidenced by the significant die polish lines and the large obverse die crack. You can't expect an above average strike from a late die state coin.

With regards to the grade, it is my opinion that the TPG's routinely discount strike as an element of grading when the other elements (surface preservation, luster, and eye appeal) are superlative. Please read the thread below for my comments on the issue.

http://www.cointalk.com/forum/t45572/

I am not saying I agree with the practice, only that it seems market acceptable to do so. Add into the equation that the coin has a CAC sticker affirming the coin is good for the grade and it is almost undeniable that the coin was given a pass on strike due to the apparent die state.

My interest in this coin rests solely on the eye appeal and toning. I could care less if the coin has Full Bands and I think that the die polish and die crack give the coin added character. The only problem with this coin IMO is whether to gamble on the luster without seeing it in hand. I could pay a dealer to assess the coin for me, but I like the gamble, it is part of the fun of buying coins. It is kinda like shoving all-in in a $5-$10 No Limit Hold-em game when you think you have the best hand. Sometimes you are wrong and lose a lot of money.

 

oops sorry, trying to post something else

 

Yes , I agree. Many misinterpret that * designation to imply it just misses the next grade... it does not. Exceptional luster , strike or toning s what the * designation reflects.

 

Oh lehigh , I do agree that TPG's will sometimes not give full importance to the strike in determining overall grade when the specimen has exceptional surface preservation . Taking a step back , to my thinking that this piece was perhaps "bumped" and "crossed" ,
we would be looking at a MS67 * designated specimen , a few I have seen through research , which in my opinion are similarly quite eye appealing and on some points , I would say a stronger strike , albeit your item has been given the grade confirmation by CAC. I just don't see this warranting a premium , as your suggesting of over $700.00 or more over the MS67 (*) star designated sales , without FSB's as well . Now I may be all wet with this thinking , given the introduction in an annual sale such as Long Beach. A buyer may just jump into that with a $1,200 bid . Thanks for the post , I hadn't noticed this but I will be keeping a watchful eye on this one. As always, if you bid , I hope it's a winning bid for you.

 

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